Solana is one of the biggest blockchains in this crypto space. Recently, however, it seems that Solana has slowed down. In this article, we take a look back at Solana's progress and project its next stretch.
Whitepaper was published in 2017, soon after, Solana received interest from many big VCs. Especially, when metion Solana, many people will immediately think of Alameda Research and FTX, a huge backer and top tier exchange. For early investors, Solana is definitely a bargain.
However, another big VCs, Multicoin Capital, also invested in Solana from the early stages and holds to the later stages. The estimated profit of this deal can be up to 614000%. This is also one of the most successful investments of Multicoin Capital.
Solana is one of the efficient blockchains in this crypto space. Due to some good blockchain technology, Solana solves many problems such as scalability, TPS, gas fees, latency very well... compared to other blockchains (e.g. ERC20)
1. Solana is the first to use POH. One of the limitations of scalability is the time it takes to have a consensus on the order of transactions. POH creates a record to prove that an event was happening at a specific time. This allows transactions to be ordered automatically.
1a. However, POH still has its own limitation. The speed of Solana network depends on the leader node's hardware. The faster the hardware, the faster of the Solana network.
2. Solana uses a consensus mechanism called Tower BFT. This mechanism is designed to optimize the advantage of POH. Moreover, Sealevel is a parallel smart contracts run-time in Solana, designed to scale horizontally on GPUs and SSDs.
Compared to other blockchains, the use of POH and the strengths mentioned above make Solana superior in terms of fees and TPS. However, recently Solana's TVL has been somewhat declining because the development of other systems like Avalanche, Terra makes Solana less noticeable.
Here are some outstanding events of $SOL in 2021. Before that, the crypto market fell into winter and accumulated sideways, so there were not many significant events except funding rounds.
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Web 3.0 is a topic that a lot of people talk about recently. In this article, let's see what web 3.0 is, the evolution from Web 1.0 -> Web 3.0, sectors of web 3.0
and the development potential of web 3.0 in the near future.
Web 1.0: It started as a military communications project by the Defense Advanced Research Project Agency (DARPA) in the USA in 1969. At that time the internet was just a webpage with text and links attached, no photos, no interactions, read-only. Overall, it's like an e-books
As Web 1.0 didn't have many functions, users just accessed there and read, but did nothing else. A few years later there was chat functionality through the Bulletin Board System, which improved interactivity on Web 1.0
In this part, let's take a look at the legos in Solana and project Solana's future, where is the motivation for Solana's further development in the next stage.
1/ First, the amount of stablecoin will represent whether the money would flow into the ecosystem or not. At the beginning of 2021, the amount of USDC in Solana was just only at $50M, but now it has reached ~$4.8B for USDC and ~$1.9B for USDT, an epic growth rate of 9600%
2/ Next, the most important array in a system is always AMM/DEX. This sector in Solana has a lot of different projects, but the 3 biggest projects and often mentioned a lot are Serum, Raydium, and Saber in order of TVL
A challenging and transformative year for crypto with the rise of diverse sectors across blockchain space, named as Layer-1, Scaling Solution NFT, P2E, Cross-Chain, and the dawn of Decentralized Derivatives
Valuing layer-1 coins like other tokens in the market or even CF concept actually not that wise choice. Considering layer-1 as a country, its coin should be valued as a national currency. To judge whether its implied power is strong or not, the coin price is merely a minor factor
The names mentioned here are ETH, BSC, Matic (polygon), Solana, Near, Fantom, Luna, and Avax which respectively achieved an impressive ATH over the past year. The article divide into 2 parts, the first briefly cover L1's journey in 2021 while the latter part will dive into DeFi.
GAMEFI MARKET & TK VENTURES
In early July 2021, in the case of Axie Infinity, AXS pumped over ~100% and trading volume soared ~300% just in 7 days, this led to gamefi market coming into a bull run. Since then, many gamefi projects launched, and TK Ventures seized this opportunity
1) Below is the ATH ROI of Gamefi projects that TK Ventures invested in. In the Gamefi trend, most projects are profitable. But before making decisions, every project has to meet our investment thesis. It's Gamefi trend but not every gamefi project we would spend money on.
2) ISSUE OF CURRENT P2E MARKET
Besides the growth of the number of blockchain games on the market, there are also many problems that exist in the current market. Here, we would like to propose 2 main problems: Game problems & Launchpad problems
Following the Layer 1 season like other #blockchain, $NEAR also gained extensive attention from various #DEFI users and investors. What element drives the growth of Near?
Let's follow the footprint of @NEARProtocol in the thread below👇
@NEARProtocol 1/ During the bull run, $NEAR joined the party that witnessed the 6x upside while reaching the new ATH. In the meantime, the various on-chain signals recorded peak, and a few major native #dapps decided to launch their tokens like first AMM DEX $REF or NFT marketplace @ParasHQ
@NEARProtocol@ParasHQ 2/ Social media has complemented ETH 2.0 & its sharding technology vision for a long time, but it takes years to apply. However, #NEAR step-up and takes the sharded nature as its core to solve blockchain trilemma, might even further advance than ETH2.0
@terra_money@stablekwon 1/ In term of macro view, $LUNA surged by 364% after the June dip which just broke ATH in last Monday, while from the general perspective, Terra ecosystem is now $11.7M.
@terra_money@stablekwon 1.1/ Operated in the last six months, its TVL accounted for 3.6% and just surpassed the phenomena layer 2 Polygon to take the third place whereas other competitors launching in the same period found it difficult to attract capital flowed in their ecosystem.